USES OF OFFSHORE COMPANIES
An offshore company is a flexible business instrument and as such can be integrated into a wide variety of tax planning and asset protection arrangements. Reduced or deferred tax liability and increased confidentiality are just two of the benefits which can be achieved by proper application of an offshore company. The practical implementation of an offshore strategy will of course depend on the anti-avoidance laws that may be in force in the country where the beneficial owner is citizen, is domiciled or does business. Therefore to all potential customers we recommend to obtain a qualified tax advice from a specialist in Your country of residence, domicile or proposed business operations.
Registered Agent and Address
All offshore jurisdictions require that their international business companies (non-resident companies, offshore companies, Business Companies, etc.) have an address within the country. This is called the Registered Address. Formally it can sometimes be a PO Box, but usually it will be a full street address - for reasons, explained below.
Most offshore jurisdictions also require that a company has a Registered Agent within the country. Usually the Registered Agent is located in the Registered Address of the company and is licensed to provide company formation, administration and management services in a professional manner. So, the Registered Agent would usually be a fully staffed, equipped, qualified and regulated firm, which provides those services to a considerable amount of clients and their offshore companies. Fidelity Corporate Services Ltd is such a licensed Registered Agent in the British Virgin Islands.
The name and address of the Registered Agent of every offshore company is filed with the Registrar of Companies. Therefore, these particulars are publicly accessible to anyone. This is in fact the main purpose of having a Registered Agent and Address – so that any person could know where the legal address of a particular company is, and which professional firm acts as a Registered Agent for this company. In essence, the Registered Agent acts as an "intermediary" between the Government and the offshore company, or between any third parties and the offshore company.
In British Virgin Islands, according to the new BVI Business Companies Act 2004, Registered Agent is required for ALL companies, regardless of their type of ownership or area of operation. In this regard there is no distinction between an on-shore and off-shore company.